/biz/ - Business & Finance

>>18408660
Priced. In.

>>18408660
I'm so glad I bought US shale and petro companies when Oil hit $20 a barrel.

It's funny watching the sleepy anons realize they should have bought oil instead of Abercrombie or whatever the fuck they bought instead.

>>18408660
What makes you think the price will go up?

trump is full of shit. Russia is not going to talks and they say they will pump for years.

Listen to Canada they are far more trustworthy then our government. Canada says oil will flow and lock downs most of the year.

https://www.pbo-dpb.gc.ca/web/default/files/Documents/Reports/RP-1920-033-S/RP-1920-033-S_en.pdf

>>18408826
its called oil futures contracts. they are set for 35 a barrel for July. Dumbass

>>18408826
No producers can sustain 20 a barrel long term. Plus when demand picks up so will price. Thats why im saying long. In 1-3 years oil will see 40-50 a barrel again. Thats when you sell

>>18408920
Enlighten me how does oil get more expensive when there is so much of it that the price will eventually go negative as people run out of places to store it

>>18408826
Trust me when I say this, oil will be back to the 50s by the end of the year. I expect that we will hit another bottom below $10 as storage maxes out but we will go back up by the end of the year when an oil dependent country like Russia or KSA starts exploding things. Shale will also begin to bankrupt by the summer killing another source of oil and bringing the price up. Do y'all really think that russia or KSA will allow their number one source of revenue to disappear without putting up a fight?

>>18408946
Russia is committed to pump regardless of the price. have you been living in a hole?

Its all a plot to destroy the petrodollar and finally rid the world of the OPEC cartel. We never should have fucked with a capitalist version of Russia with out monopoly in the first place.

>>18408660
cutting barrels doesn't look very bullish

>>18408974

The longer they pump oil the less countries they have to compete with later. Have you even listened to the Russians speak. They are literally going to pump oil for years at max capacity and have already prepared to face the economic burden.

>>18408974
The only way we can fix this is by subsidizing oil own oil. If the price does go up it will be because we lost.

I hope Americans can get used to not being able to afford a Iphone with a McDonald paycheck anymore. Petrodollar is literally the only thing keeping our trade deficit afloat.

>>18408975
Russian faggot. The russians are pumping to destroy US shale companies.

>>18408660
I already went all in MRO, XON, KOS, PDS. Going to see if I can pick up HAL on Monday

>>18409070
Finally fuckin figured it out.

Yes the only way to fix this is to subsidize our own oil and then the USA would be even more fucked because the Dollar needs OPEC to hold trade value.

Russia will pump and the saudi's will pump out of FOMO as well until the dollar shits the bed. No one gives a fuck if it goes negative.

As i said demand will stay low because the lock down will continue and Russia will keep pumping regardless. So sayeth Canada
https://www.pbo-dpb.gc.ca/web/default/files/Documents/Reports/RP-1920-033-S/RP-1920-033-S_en.pdf

>>18409089
do you think prices will go up monday? They are pretty much still at all time lows now at 22/barrel

im buying oil tanker/storage stocks. will pick up RDS.B if it drops low enough

>>18409220
Some will go up some will go down. Look at ICD. Literally up 180%. It’s getting pumped harder than the oil itself.
Don’t sell the moment you see it go down. Overall, things are recovering. Stocks will definitely go up & down on Monday, just microbuy the dips.
Every oil stock I have goes down a few percentages during the market being open, and then after-hours trading they always goes way up.
Don’t let your emotions get to you

>>18409268
I saw that. Why did it puhmp so much

>>18409245
What do you consider low enough for shell? $35?
I haven’t looked too much into those stocks

>>18409220
Fuck knows the market is rigged

the only thing we know for sure is they will run out of storage space for oil soon and then the price will be forced to break whatever artificial peg they have it on.

>>18409245
Dude knows whats up. The only people making a profit on oil for a while now will be the ones storing it while America and Russia duke it out

>>18409285
I wish I knew because I would’ve bought the hell out of that stock

>>18409289
U do not want to own any oil companies for a least a year or 2. Do a asset check and see if they can pump under 30$ a barrel if not short the company or do not buy.

Personally i plan to be out of Dollars and Oil stock market as well. Even housing is fucked. Who thought it would be a good idea to issue a rent moratorium but not a mortgage moratorium. Landlords are going to get foreclosed in mass and flood the market tanking housing prices.

Literally everything is set to explode. I would have invested in a passport if i could still get one.... they stopped issuing passports fml

>>18409383
COPE
we’re going all in on oil and there’s nothing you can do to stop us

CLR MUR PBF XOM RDSB USO
What are the chances of iranian missiles landing on an oil field? That would speed things up

>>18409501
Yep all it takes is one little conflict with Iran, and oil will Moon back to 80
>>18409383
This guy is a dumbass. If oil combusts, we will be in a great depression. And your money will be damn near worthless. The world powers are not about to allow that to happen.

>>18408660

I bought the shit out of Marathon in low 3's and Exxon when it was 31. Why? Because not only do they just do oil, they sell the fucking gas too. It's different than these little penny stock fuckers that drill or refine.

Besides, I think these are attractive companies for the long run if you're in 20's-30's. Oil in the next several decades will become interesting, and even with countries like the US going "clean" the Chinese/Indians/Nigerians of the world ain't gonna give two fucks because they're wanting an Industrial Revolution of their own.

>>18409499
Nooooo you fools Put it all in Ethereum lol

unIronically im just a Ethereum guy so what do i know about your oil.

Good luck ur going to need it when ur financial instruments suffer Y2K chaos because no one in their right mind would code for a negative oil price

>>18409543

Sure because ur government has a great plan to get Russia to stop pumping oil. Trump tweets full of blatant lies about how Russia is going to stop soon are working so well

>>18409289
my buy price for shell is ~20$. there is no rush to get into big oil companies as they will be crabbing / deflating for a while until demand returns

>>18409576
what about their own energy minister saying theyll cut production by 2mb a day

>>18409784
Fake news

source anon

>>18409784
>2mb a day
thats a drop in the bucket in the grand scheme of things